OKLAHOMA CITY COMMERCIAL DATA EXCHANGE LAUNCH SUCCESSFULL
Validates National Expansion Strategy Funded by LoopNet
Independence, MO (April 22, 2008) — Xceligent, Inc. today announced that in the short five months since it was launched, the Oklahoma City Commercial Data Exchange (OKCDX) has grown to include more than 75 of the top commercial real estate firms in the market.
Oklahoma City is the first new market launched since a strategic alliance was formed between Xceligent and LoopNet (NASDAQ: LOOP) in the summer of 2007. Initially recognized as an online marketplace allowing commercial real estate brokers to manage their own listing information, Xceligent transitioned into a proactive research company in 2003. By June of 2005, Xceligent had launched a new fully proactive research model in selected markets. LoopNet became Xceligent’s primary funding partner for a national expansion after Xceligent demonstrated it could deliver this research concept more cost-effectively than its primary competitor.
Charles E. Wiggin, President of Wiggin Properties, commented, “Xceligent's comprehensive database and support of its maintenance will greatly improve the communication of market information at a reasonable cost. We are pleased that Xceligent has committed the resources to develop a valuable tool for serving our clients’ needs.”
Xceligent has also partnered with Real Estate Appraisal Data, Inc. (READ). READ, a group of more than 20 local appraisal companies with a 15-year history of researching local commercial property sales has now made that information available through the OKCDX. Alan Schmook, Vice President of READ, added “I expect READ’s partnership with Xceligent is going to become a model for appraisal and brokerage communities across the country. I’ve watched other markets struggle to pull all the pieces together, but I think we’ve found just the right blend of local control and national resources working to unite a market.”
Xceligent also provides listing information to The Journal Record for its quarterly SQUARE FEET publication that promotes the availability information to more than 15,000 readers.
“Xceligent’s alliance with LoopNet provides the horsepower to accelerate Xceligent’s position as the industry’s only alternative provider of fully researched real estate information,” explained Doug Curry, Xceligent’s CEO. “LoopNet has provided us with the financial resources, strategic insight and operational guidance for this expansion, helping us solidify our position in the industry.”
“We are extremely pleased at the progress that Xceligent has made, as demonstrated by their success in the Oklahoma City market,” said Jason Greenman, SVP Corporate Development for LoopNet. “Xceligent has proven that their efficient research model can succeed in unifying a market such as Oklahoma City, providing high-quality, fully-researched data to their customers at a reasonable price.”
About Xceligent
Xceligent, Inc. is a nationwide provider of property and listing information for the commercial real estate industry. Xceligent utilizes an efficient, proactive research model to provide its clients with the most timely and accurate database of commercial real estate information available.
Xceligent brings critical business information about property listings, sales comparables and tenant information to commercial real estate professionals in markets of all sizes. The company also offers a full suite of marketing tools to assist brokers and agents in reaching an even wider audience.
Xceligent works with local commercial real estate communities to meet their individual needs while simultaneously allowing them to reach a state-wide or national audience. Founded in 1999 and headquartered in Independence, MO, Xceligent provides services in 30 markets across the country. The company has started a national rollout to expand its services into 50 additional markets over the next 60 months. Visit http://www.Xceligent.com for more information.
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